Agriculture

Agriculture
April 1, 2010MHP reports on 2009 results: POSITIVE

MHP S.A. [MHPC LI, U/R] a leading vertically-integrated poultry producer in Ukraine, has announced its results for the 2009 financial year ended December 31, 2009, after which it held a conference call presentation and Q&A session.

Agriculture
March 31, 2010Ukrainian banks purportedly ready to finance agriculture

The Minister of Agrarian Policy of Ukraine, Mykola Prysyazhnyuk, claims that Ukrainian banks are ready to finance agricultural companies with their future harvest as collateral. He noted that, in March 2010, banks provided greater volumes of credit than was the case a year ago. At the same time, the banks have lowered interest rates to 18-20%. As for state support, the government mentioned plans for a sum of USD 150 mln (or UAH 1.2bln) for interest compensation for agricultural companies in 2010.

Agriculture
March 29, 2010Minister appeals to sugar producers to lower prices

The Minister of Economy of Ukraine Vasyly Tsushko appealed to the country’s sugar producers to lower the price of sugar on the domestic market to an economically viable level. He noted that, in the case that they are unwilling to cooperate, the Ukrainian Government will move to import an additional amount of raw cane sugar into the country in order to address the situation with the sugar shortage in Ukraine.

Agriculture
March 26, 2010Ukraine to import 100 thsd tonnes of sugar from Belarus

The Minister of Agrarian Policy Mykola Prysyazhnyuk stated that the import of 100 thsd tonnes of sugar should be considered to cover the shortage of sugar supply on the domestic market.

Agriculture
March 25, 2010Astarta purchases 19 tractors for EUR 3 mln

Astarta [AST PW, BUY], a major agro-holding in Ukraine, has announced that it has purchased 19 Fendt tractors for a total sum of EUR 3 mln for agricultural farms located in the Poltava region.

Agriculture
March 25, 2010Global sugar price reaches 8-month low

The price of white sugar in London, with delivery in May, has fallen to its 8-month low at USD 463.4 per tonne. In fact, this is the lowest point seen since July 20, 2009. Just a day before, on Tuesday, the price fell by 6.7%. Thus, the correction has amounted to 40% since the 20-year hike in January, caused by an improved forecast for sugar production in India and the outright refusal of some countries, including Egypt and Pakistan, to purchase sugar.

Agriculture
March 23, 2010Astarta to increase area under sugar beet by 10.2%

The Astarta Holding [AST PW, BUY], a major agroholding in Ukraine with a focus on sugar production, has announced its plans to increase areas under sugar beet by 10.2% to 37.5 thsd ha compared to the previous season. The Company plans to expand its area under grain crops by 3.9% to 41.7 thsd ha, and land under oil crops by 39.3% to 38.0 thsd ha.

Agriculture
March 22, 2010Cargill significantly reduces grain trading in Ukraine

The Cargill company, a major global soft commodities trader, has announced a significant slump in its grain trading business in Ukraine. It estimates that its total grain export from Ukraine should amount to about 300 thsd tonnes this season, a four times less than the previous season. Thus, Cargill isn’t even among top-10 grain traders in the 2009/10 marketing year. The reason for the fall is a Ukraine’s huge VAT reimbursement debt of about USD 125 mln.

Agriculture
March 19, 2010Astarta to increase storage capacity

The Astarta Holding [AST PW, BUY], a major agro holding in Ukraine with a focus on sugar production, has announced plans to construct two elevators with a storage capacity of 20-30 thsd tonnes each, by the start of harvesting campaign in 2010. As a result, the Company’s total storage capacity should increase by 14% to 250 thsd tonnes. Additionally, the Company has confirmed its plans to expand its land bank under lease to 200 thsd ha by 2010.

Agriculture
March 18, 2010Landkom to reach breakeven point in 2010

Landkom International [LKI LN, U/R], a leading agricultural holding operating in Ukraine, has announced plans to reach the breakeven point in EBITDA terms in 2010. Vitaliy Skotsyk, the Company’s CEO, noted that Landkom’s previous business plan was based on low yields and the price level in 2009, while the price situation has improved since then. Thus, he expressed that the results should be even better than previously expected.

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